Allens has advised Stockland on a capital partnership with data centre operator EdgeConneX to develop, own and operate an Australian portfolio of data centres.
The partnership will combine Stockland's land, development and project management expertise with EdgeConneX's global experience in providing data centre solutions to cloud and AI providers.
The Allens team was led by Vijay Cugati and Victoria Holthouse alongside managing associate Elise Blume.
'We're proud to again support our long-term client Stockland on this significant transaction, which demonstrates surging demand – particularly from hyperscalers – in a growing asset class,' said Partner Vijay Cugati.
'This landmark capital partnership underscores the central role of data centres as a rapidly growing driver of development across Australia. The deal yields significant strategic benefit by combining Stockland's world-class development experience with EdgeConneX's global experience in data centre solutions,' said Partner Victoria Holthouse.
'We are delighted to work in partnership with the Stockland team on this, and across other development and capital partnership opportunities.'
'It has been a rewarding opportunity to support the Stockland team on this exciting transaction, which balances a pipeline of identified assets with a flexible structure that allows the partnership to deploy capital and grow over time in line with customer demand,' said Managing Associate Elise Blume.
The Allens team has advised Stockland on a number of capital partnerships including logistics partnerships with M&G Real Estate and KKR. Allens is a market leader in data centre advisory, having recently advised: Blackstone on its US$10 billion debt financing facility for Firmus; Keppel on its proposed 720MW data centre campus; and the lenders on PEP's acquisition of an interest in Spark New Zealand's data centre business.
